27th Jan 2006 12:14
Air Music & Media Group PLC27 January 2006 FOR IMMEDIATE RELEASE 27 JANUARY 2006 Air Music & Media Group plc ("Air Group") RESULT OF EGM The Board of Air Group announces that at the Company's Extraordinary GeneralMeeting held earlier today, all the resolutions were duly passed. Following the EGM, the Company's ordinary shares of 2.5p each will beconsolidated on a 1 for 30 basis into ordinary shares with a nominal value of75p each, which are expected to commence trading on AIM on Monday 30 January2006. John French, Chairman of Air Group, commented: "We are pleased that allresolutions have been passed and we hope to maintain the faith of ourshareholders with full year results that will meet market expectations. Despitethe caution we expressed in mid-December, sales in the critical Christmastrading period were in line with management expectations, and trading in January2006 has also performed well. "The Group has successfully centralised UK distribution and as a result expectsto generate future overhead savings. It has also entered into an exclusivesupply arrangement giving it access to selected Universal Music budget releaseswhich are produced by Universal exclusively for the Group. "These factors give the Board confidence in achieving sales of between£68million and £70million for the year ending 31 March 2006." --ENDS-- Enquiries: AIR MUSIC&MEDIA GROUP PLCJohn French, Chairman Tel: 078 3672 2482 BISHOPSGATE COMMUNICATIONS LIMITED Tel: 020 7430 1600Dominic BarrettoNick Rome This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MUBL.L